Market Analysis for Sep 29th, 2004
For today's Mid-Day Minute, Mike writes: The E-SPZ continues to gyrate in a sideways range, which as of now, represents a BULLISH congestion area within the recovery rally that started yesterday at 1102.75. As long as this AM's swing pullback low remains intact and viable, the sideways congestion pattern should resolve itself to the upside initially climbing above 1112.00/50, which then should trigger additional strength that propels the index into the critical resistance area between 1114 and 1115. And ONLY a sustained rally above 1115.00 will trigger still more upside into our optimal target zone of 1117.00-- up to 1120. So far, so good.
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